Amarillo Announces Non-Brokered Private Placement For Up To $2.1 million

(TSX-V AGC) ("Amarillo" or the "Company") is pleased to announce is that, subject to regulatory approval, it intends to proceed with a non-brokered private placement financing (the "Private Placement") of up to 3,000,000 units (the "Units") of the Company at a price of $0.70 (seventy cents) per Unit for aggregate proceeds of up to $2.1 million. Each Unit will be comprised of one common share in the capital of the Company. Subject to certain conditions including, but not limited to, the receipt of the approval of the Toronto Stock Exchange.

All currency references are in Canadian dollars.  The proceeds will be directed towards further exploration and definition of our Brazilian gold projects. Successful closure of this offering will allow the Company to proceed with a work program on its gold projects in Brazil over the next 12 months, with a particular focus on drill testing at our Lavras do Sul project.

This news release is not for distribution to United States newswire services or for dissemination

in the United States. The securities offered have not been registered under the United States

Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

ABOUT AMARILLO:-

Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the state of Rio Grande do Sul. The Posse Deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain 643,000 ounces indicated @ 1.48 g/t Au, 538,000 ounces inferred @ 1.26 g/t Au. The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support. Current share issue equals 42,968,133.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Per:  "Buddy Doyle"

Buddy Doyle, President